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January 17, 2020

US fashion retailer Gap drops plans to separate Old Navy

US clothing and accessories retailer Gap has dropped plans to separate the Old Navy brand into a standalone public company.

US clothing and accessories retailer Gap has dropped plans to separate the Old Navy brand into a standalone public company.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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by GlobalData
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In February last year, the company revealed its plan to separate its business into two new independent entities.

The decision for separation was dropped as Old Navy stores witnessed a decrease in sales in the recent quarter, reported CNN.

Gap interim president and chief executive officer Robert Fisher said: “The plan to separate was rooted in our commitment to value creation from our portfolio of iconic brand.

“While the objectives of the separation remain relevant, our board of directors has concluded that the cost and complexity of splitting into two companies, combined with softer business performance, limited our ability to create appropriate value from separation.”

The company has planned to operate Gap so that it complements the growth of Old Navy and Athleta.

As part of the restructuring, the company’s board is planning to appoint a new CEO to oversee the full portfolio of brands and corporate strategy.

Meanwhile, Banana Republic brand president and CEO Mark Breitbard has been elected to lead Gap’s specialty brands comprising of Gap, Banana Republic, Athleta, Janie and Jack, Intermix and Hill City.

Gap brand’s existing president and CEO Neil Fiske, who is also behind the separation, will depart from the company.

Fisher added: “The work we’ve done to prepare for the spin shone a bright light on operational inefficiencies and areas for improvement.

“Our board is focused on supporting this work and appointing new leadership with the appropriate experience necessary to lead a portfolio of retail brands and to support our transformation efforts.”

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.